It does not require the intelligence of a space rocket scientist to understand that the DISCOs were sold to friends of the former administration, despite the efforts to make the biddings appear transparent. Amadi could not therefore be expected to regulate tariffs in a manner that would jeopardize the investments of the friends of the government and his benefactor.

“This scenario can cause the SMEs to fold up because before you pay, other things would have eaten deep into his profit,” he said. Speaking on consumer credit , he said that Nigeria is a big consumer market because of its population as a result of that credit thrives, both at individual and institutional level, saying, “We have not seen what constitute consumer credit yet. If you are taking credit far above your income, you have planned to become a distressful person because it is above your income.

Following multiple rules rolled out by the Central Bank of Nigeria (CBN) last week, financial experts have classified the monetary policy regime and environment as unstable, uncertain and therefore hostile to businesses. CBN had rolled out two circulars last week declaring some items ineligible for both its foreign exchange (forex) window and the alternative sources namely, the bureau de change (BDC) and export proceed windows, citing excessive pressure on foreign reserve and the need to stimulate local production of those items.

There are several new innovations we have brought to logistics in Nigeria. First, we have introduced our own delivery proprietary technology into the market, customised for the Nigerian consumer. What that means is that you can now tell at every point in the delivery process where your package starts. This is something that no one else is doing. Our riders have their own mobile application at the point of delivery when they update our system that an item has been delivered. We get a notification and our business merchant gets an alert and then the end customers can reconfirm that they received their package.

Looking at the entertainment industry now, without Nigerian music, the party will not rock unlike what we had in the seventies and nineties. There is a shift and 40 to 50 per cent of Nigeria adults now watch Nigerian content. Can you believe that Channel TV after CNN in Nigeria has one of the highest ratings? And it is a Nigerian channel just because people are connected to the station. We believe the mindset is changing.